Share Transfers Agreed/Cooling off period

[Dunderhall]

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I think they'd said that any money taken would be returned if they were unsuccesful. I suspect that, as others have suggested, they know that they don't have enough and are postponing rather than the costly route of refunding. Also, the longer that they hang in there the more chance of the league starting and the higher the chance of them being allowed to continue in the SPFL after it all implodes.

On the pledge part of the FoH site, it says the current date for DDs will be 2nd Aug with the caveat that if they are still in negotiations then "an appropriate date will be decided".
It looks like the timing is down to the minimum 3 working days notification under the DD guarantee scheme.

I don't think there is much to be read into the timing at this point unfortunately, the pledgers agree to pay any refund costs so they are covered that way as well.
It makes the decision not to take the payments strange to me.

I'm not arguing they may know the game's up for the current bid, just I don't see this as an indication of it.

[clerriehibs]

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If you don't give money you are not a real fan, aye you are, no your no, you are a bawbag and a roaster, yer ma is a roaster

FoH marketing and PR is shocking, do you want Alastair Campbell to do the PR, your ma is a roaster etc Haha

And the ground is now only worth £2m .. I'd say the ground is worth negative money myself, but it's the land that developers will be after ... and certainly not for only £2m!!!

[Joy Zipper]

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He is right about the bit in bold though.

Brilliant!

[s.a.m]

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He'd need his own postcode if he started getting replies.

[Gus Fring]

I said weeks ago that FOH are unlikely to start taking Direct Debits. If they had taken the money out of peoples bank accounts on friday as planned and they didn't get control of Hearts or it drags on and on then people would be demanding refunds. That would be a massive pain to refund so many people. My guess is they know nothing is going to come of it but don't want to be the ones that give the game away.

[MyJo]

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I'm struggling with that one myself, Bob. Instant fun and fireworks, or a protracted, slow-burn, gift-that-keeps-giving scenario?

On balance, I think I'm going to have to go for the more cautious 'bird in the hand is worth two in the bush' approach, and opt for instant extermination. You just never know. ?

If they implode this week then the league will have to carry on but with HoMFC unable to honour fixtures so every Hearts game would be recorded as a 3-0 victory for the opposition.

Im warming to the idea of seeing the table at the end of the season with Hearts on -15 points and a -114 goal difference

[Spike Mandela]

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Me too, Bob.

Them starting the season in a moribund state, reliant on fans pledges which will undoubtedly peter-out once the internal squabbles and bickering within FoH really kick-in, and upon implosion, they're kicked-out of the SPL. Divisions...divisions

Why is Bryan Jackson all over the radio today stating he is still 'optimistic' of a deal be done with a bidder if it seems so inevitable that liquidation looms? Might UKIO do a deal if the bidders stump up a little bit more?

[Gus Fring]

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Why is Bryan Jackson all over the radio today stating he is still 'optimistic' of a deal be done with a bidder if it seems so inevitable that liquidation looms? Might UKIO do a deal if the bidders stump up a little bit more?

That's his job, he has to try his best to get the club sold as a going concern and shouldn't give up until liquidation is unavoidable. It's entirely possible at this stage that Hearts will still be sold. Just because liquidation is the most likelydoesn't mean it will eventually come to pass.

[SmashinGlass]

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Why is Bryan Jackson all over the radio today stating he is still 'optimistic' of a deal be done with a bidder if it seems so inevitable that liquidation looms? Might UKIO do a deal if the bidders stump up a little bit more?

I personally think its to be expected. Everything he says will be caveated with the L word, however. I think he's trying to keep the roasters onside but knows deep down the clock is ticking

[Siralbertkidd]

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I personally think its to be expected. Everything he says will be caveated with the L word, however. I think he's trying to keep the roasters onside but knows deep down the clock is ticking

Do you think Rudi knew? The L he kept showing us was for LIQUIDATION

[PapillonVert]

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I'm still torn between wanting them liquidated before the start of the new season, and having them stagger on in some form, and face the humiliation of implosion en route, followed by liquidation. Decisions, decisions....

Oh, Roberto, what a dilemma right enough.

As a person of compassion, even towards the undeserving hoors of Gorgie, I would go for a quick death.

We must not let our personal feelings of Schadenfreude get the better of us. If we can help it......

[Springbank]

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Blimey, are there subsections of paedos over there? Slow, lingering, festering, grooming-for-years types, and then this other mob you mention? Committee meetings in The Fiddlers' Arms, chips out of the Rapido on the way home, that sort of thing?

Hey, leave the Rapido chippy and pizzeria out of this - it's never a yam place, definite Hibee leanings!

And the pizzas are out of this world

[The Green Goblin]

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Do you think Rudi knew? The L he kept showing us was for LIQUIDATION

Maybe...it would explain why he (along with all those other players who took millions out of Hearts) have been so prominent, involved and vocal in trying to save them recen..... oh..... hold on....

[Spike Mandela]

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Do you think Rudi knew? The L he kept showing us was for LIQUIDATION

Oh I can see it now, a 'Liquidation all over the world picture thread'

[rossc]

ian murray must have seen that it was all going to turn out like this from the start

makes you wonder what was in it for him

the previously unknown 1st term labour mp

[s.a.m]

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ian murray must have seen that it was all going to turn out like this from the start

makes you wonder what was in it for him

the previously unknown 1st term labour mp

"and what was it that attracted you to millionaire Paul Daniels?"

[lapsedhibee]

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ian murray must have seen that it was all going to turn out like this from the start

makes you wonder what was in it for him

the previously unknown 1st term labour mp

You're porbally suggesting it was to do with his profile, but I never even once saw his profile - it was always full-frontal, full-on, full-fat face.

[Kato]

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You're porbally suggesting it was to do with his profile, but I never even saw his profile - it was always full-frontal, full-on, full-fat face.

That's how roasters do it.

[PapillonVert]

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ian murray must have seen that it was all going to turn out like this from the start

makes you wonder what was in it for him
the previously unknown 1st term labour mp

He is a politician.

His nature is to keep spouting the same old rubbish over and over again because he believes that the more often he says something, the more true it becomes and the more likely it is that ordinary people will believe it. No evidence to the contrary, certainly not incontrovertible fact, will ever convince him otherwise.

With the yams, he has the ideal "electorate". Gullible and desperate to believe.

[truehibernian]

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ian murray must have seen that it was all going to turn out like this from the start

makes you wonder what was in it for him

the previously unknown 1st term labour mp

The hypocrisy the man shows is quite stunning - his latest tweets include praise for the Church for tackling payday loan companies whilst criticising lack of Government stance/movement on the issue (the BBC link he posts has a go at Wonga in particular).

Who sponsors Hearts again Quite happy for his football club to take their cash though eh Not sure I heard him shout from the Tynie rooftops that it was a scandal they were taking Wonga's cash and proudly displaying them on their shirts........or am I mistaken

First and only term mate, trust me. No Labour voter I know wants him representing them for another term (and I am/was one).

[Bostonhibby]

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Any one got any ideas who else i can send letters ? my endless personal pursuit of justice must be continued until the day the PBS Is closed down and the yam fuds are doomed.

Sidney.

Have you tried contacting one of their own? Wee Shaun Lawson. Always has something intelligent and drawn out to say. Available on all good websites and bound to have his finger on the pulse, or wherever it is all good yams put their finger.

[Paisley Hibby]

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The league chairmen would just need to vote to transfer their share to the Newco. That's what they tried to do with Rangers, but the majority voted against (after fan pressure). If a majority voted in favour of a transfer then they may be allowed to complete the season (unless the rules now prevent it).

But it's all the one league organisation now so what share is it that would be transferred?

Whenever the Yams get liquidated, if the SPFL Chairmen then vote to keep a Yam Newco in the top league there will be riots in Govan. It would be much easier for the SPFL to bin them now and save all those shenanigans in a month or so's time.

[Ozyhibby]

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Have you tried contacting one of their own? Wee Shaun Lawson. Always has something intelligent and drawn out to say. Available on all good websites and bound to have his finger on the pulse, or wherever it is all good yams put their finger.

Thought he had been kicked off kickback?

[Just Alf]

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The league chairmen would just need to vote to transfer their share to the Newco. That's what they tried to do with Rangers, but the majority voted against (after fan pressure). If a majority voted in favour of a transfer then they may be allowed to complete the season (unless the rules now prevent it).

This is where I get confused (easily done!)

If the Liquidiser arrives at Tynie the Yams wouldn't have the keys to the place so won't be able to play there.

unless of course a Newco buys the Yams and the ground for the UKIO/UBIG Admins asking price and right now its been shown that the current bidders aren't at the races.

I think!

[lord bunberry]

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"and what was it that attracted you to millionaire Paul Daniels?"

Classic mrs merton that was.

[YehButNoBut]

Looking at todays article in the EN, Massone still has not provided any proof that he has the capital to proceed with his bid, he has been given another 2 weeks to prove he has the cash or will be discounted from the bidding process.

Surely there was a deadline for this last week but BDO are obviously making it up as they go along.

So if Massone does drop out that leaves FoH with backing from around 5,500 Hearts fans, who have pledged money to run the club via a membership scheme if the FoH gains 
controls as the only show in town, and their bid is way below what the Lith admins will accept.

Doesn't sound good for them, does it.

http://www.edinburghnews.scotsman.co...ding-1-3021320

[PapillonVert]

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This is where I get confused (easily done!)

If the Liquidiser arrives at Tynie the Yams wouldn't have the keys to the place so won't be able to play there.

unless of course a Newco buys the Yams and the ground for the UKIO/UBIG Admins asking price and right now its been shown that the current bidders aren't at the races.

Possibilities for the Yams include homelessness, ground sharing with someone else, or renting back Tynie from the new owner at least temporarily. None a given.

Possibilities for the Yams: homelessness, ground-share or rent-back of Tynie (probably temporarily), none of which seems welcome IMO,

I think!

The Lithuanians who have the security over Tyne (i.e. the land) have a sum in mind which they believe that land is worth if it is sold on the open market.

The bidders need to satisfy not only the creditors via a CVA but also the holders of the security over the land. They (the Lithuanians) hold the aces because they hold the security over the land. If that's the only money-realisable asset (it seems to be so) then they are due all the money that comes from realising that asset (assuming it is less than the total they are owed = more than likely). Their debt (£15m) has to be paid first before anyone is paid because they are secured creditors.

So, if you are the secured creditor, you need to get as much from the bidders as you could get from an open market sale of the land.

The Lithuanians think the land is worth £5m (+++++++ depending on whose valuation you believe) on the open market, all of which (minus expenses) would go to them. Leaving SFA for the other creditors with zero.

The current offers are for the club + assets as a going concern with very small amounts for a CVA.

From the secured creditors POV these are rubbish offers because they believe they could realise more through a liquidation even though they might not get all their cash back.

The liquidators of the secured creditors are under a legal obligation to get the best possible price for the secured assets. If FoH and the other party can't meet their requirements in this regards, the secured creditor can force a liquidation in order to sell the secured asset (Tynie/land) and get some of their money back.

I think.

[Just Alf]

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The Lithuanians who have the security over Tyne (i.e. the land) have a sum in mind which they believe that land is worth if it is sold on the open market.

The bidders need to satisfy not only the creditors via a CVA but also the holders of the security over the land. They (the Lithuanians) hold the aces because they hold the security over the land. If that's the only money-realisable asset (it seems to be so) then they are due all the money that comes from realising that asset (assuming it is less than the total they are owed = more than likely). Their debt (£15m) has to be paid first before anyone is paid because they are secured creditors.

So, if you are the secured creditor, you need to get as much from the bidders as you could get from an open market sale of the land.

The Lithuanians think the land is worth £5m (+++++++ depending on whose valuation you believe) on the open market, all of which (minus expenses) would go to them. Leaving SFA for the other creditors with zero.

The current offers are for the club + assets as a going concern with very small amounts for a CVA.

From the secured creditors POV these are rubbish offers because they believe they could realise more through a liquidation even though they might not get all their cash back.

The liquidators of the secured creditors are under a legal obligation to get the best possible price for the secured assets. If FoH and the other party can't meet their requirements in this regards, the secured creditor can force a liquidation in order to sell the secured asset (Tynie/land) and get some of their money back.

I think.

[Pretty Boy]

I heard from (almost) the horses mouth today of one Edinburgh based property developer very interested in the Tynecastle site. They are. 'watching with interest' at the moment.

Not going to name them but they aren't one that has been mentioned thus far in the thread eg Cala et al. Have done quite a bit redevelopment work in Edinburgh over the years though as well as abroad. They also redeveloped a site not a million miles away from Tynecastle several years ago.

[kdhibees1]

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I heard from (almost) the horses mouth today of one Edinburgh based property developer very interested in the Tynecastle site. They are. 'watching with interest' at the moment.

Not going to name them but they aren't one that has been mentioned thus far in the thread eg Cala et al. Have done quite a bit redevelopment work in Edinburgh over the years though as well as abroad. They also redeveloped a site not a million miles away from Tynecastle several years ago.